15607 Grassy Willow Dr · Huntertown, IN 46748

$295,000

4 bd · 2.0 ba · 1,886 sqft · SingleFamily public records · 2 Days on market

Built 2011 7,841 sqft lot Est $347k · 15% under $16/mo HOA · 1% of rent

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +14.2/15.0
• Cash flow +13.3/30.0
• Schools +4.9/10.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * REDUCED & READY TO SELL * * Tucked away in Willow Run on a tree lined lot is a beautiful 4-Bedroom that does not lack for space or lay-out options. Step inside the vaulted entryway, and behind glass French doors find the first of two Living Spaces ~ a spacious Den/Formal Dining Room/ Home Office. Continue on to the Great Room and adjacent Eat-in Kitchen which comes fully loaded with upscale Stainless Steel appliances and offers easy access to the back patio. Wrapping up the Homes main level is a private Laundry Room already fitted with a Washer & Dryer and main floor Half Bath tucked behind a pocket door. The Upper Level is comprised of a large Master Suite with a walk-in closet and en suite PLUS Three Guestrooms and their shared Full Bathroom. The location could not be better; located in the highly desirable NWA School District and near the Parkview Regional Hospital, Parkview Family YMCA, Pufferbelly Trail, easy highway access, and all of the dining & shopping options nearby Lima & Dupont roads have to offer. Schedule your tour Today & be moved into your new Home before the New Year!

Key facts

• 7,841 sq ft lot
• 2 garage spots
• Built 2011

Property features AI

Finance

• Other: Located in the Willow Run subdivision
• HOA & community: Homeowners association with an annual fee of $189 (about $15.75/month)

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Brick and vinyl siding exterior; Slab foundation; Built as a site-built home
• Exterior features: Level lot; Lot dimensions approximately 60 x 133

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 main-level bathroom
• Interior features: Dishwasher; Microwave; Refrigerator; Electric range; Central air conditioning; Natural gas forced-air heating
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $1 ($9/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (20.2% below list).
• Recommended offer: $235k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.1% in Huntertown — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#159 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Northwest Allen County Schools (rural): math 51% / reading 58% proficiency, ranked #25 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Huntertown Elementary School (math 44% / reading 36%, grade F, #494 of 994 statewide, top 50%, 506 students, 38% FRL); Carroll Middle School (math 39% / reading 55%, grade D+, #65 of 330 statewide, top 21%, 994 students, 29% FRL); Carroll High School (math 59% / reading 86%, grade B+, #10 of 369 statewide, top 3%, 2,554 students, 21% FRL) — zoned schools average 29% FRL vs 11% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 148 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $235,380 (20.2% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $347,024
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15607 Grassy Willow Dr	0.00mi	4/2.5	1,886 (0%)	1mo	$286,000	$152	97
1217 Lebaron Cv	0.12mi	4/2.5	1,951 (+3%)	4mo	$326,000	$167	83
1008 Ravenwillow Dr	0.10mi	4/2.5	1,744 (-8%)	3mo	$296,000	$170	79
814 Larkwillow Ct	0.39mi	4/2.5	1,911 (+1%)	1mo	$299,000	$156	76
15836 Impala Dr	0.11mi	3/2.0 (-1)	1,740 (-8%)	2mo	$320,000	$184	75
910 Honey Willow Blvd	0.13mi	4/2.5	2,083 (+10%)	1mo	$332,000	$159	74
1480 Monte Carlo Dr	0.32mi	4/2.5	2,003 (+6%)	1mo	$389,900	$195	72
1372 Marsh Deer Run	0.15mi	4/2.0	1,621 (-14%)	0mo	$360,000	$222	69
14983 Windwood Ct	0.54mi	4/2.5	1,924 (+2%)	1mo	$318,000	$165	69
15435 Verano Pl	0.58mi	3/2.0 (-1)	1,857 (-2%)	1mo	$397,500	$214	65
1455 Herdsman Blvd	0.27mi	3/2.5 (-1)	1,640 (-13%)	1mo	$362,900	$221	58
1466 Monte Carlo Dr	0.31mi	3/2.0 (-1)	1,604 (-15%)	1mo	$334,900	$209	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-47,831
• Equity at exit: $43,985

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-41,895
• Equity at exit: $25,506

Cash invested: $82,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46748

• Home prices YoY: -22.2%
• Active inventory: 148
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,354 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$173 /mo · $2,074/yr
• Insurance: −$123
• HOA: −$16
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $1

Break-even live

Break-even rent $2,353

Max offer price $295,000

Occupancy floor 95%

Sensitivity live

Price	-10% $168	-5% $84	+0% $1	+5% $-83	+10% $-166
Rent	-10% $-185	-5% $-92	+0% $1	+5% $94	+10% $187
Rate	-1.0pp $149	-0.5pp $76	base $1	+0.5pp $-76	+1.0pp $-153

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14784 Gul St Fort Wayne, IN	3.0	2.5	1459	$1,895	$1.30	15d	4	0.71mi
1298 Switchfoot Dr Huntertown, IN	4.0	3.0	1990	$2,700	$1.36	23d	1	0.96mi
17146 Apostle Island Cv Huntertown, IN	3.0	2.0	1534	$2,300	$1.50	23d	1	1.42mi
562 Highfields Cv Fort Wayne, IN	4.0	2.5	2413	$2,700	$1.12	23d	1	1.45mi

HOA detail

• Monthly dues: $16 · $192/yr

Listing history 10 events

1. 2026-05-10
   status Pending
2. 2026-05-08
   listed $295,000 Active
3. 2024-02-02
   soldstatus $269,900 Closed 1138-char remark

   Show marketing remark (1138 chars)

   * * REDUCED & READY TO SELL * * Tucked away in Willow Run on a tree lined lot is a beautiful 4-Bedroom that does not lack for space or lay-out options. Step inside the vaulted entryway, and behind glass French doors find the first of two Living Spaces ~ a spacious Den/Formal Dining Room/ Home Office. Continue on to the Great Room and adjacent Eat-in Kitchen which comes fully loaded with upscale Stainless Steel appliances and offers easy access to the back patio. Wrapping up the Homes main level is a private Laundry Room already fitted with a Washer & Dryer and main floor Half Bath tucked behind a pocket door. The Upper Level is comprised of a large Master Suite with a walk-in closet and en suite PLUS Three Guestrooms and their shared Full Bathroom. The location could not be better; located in the highly desirable NWA School District and near the Parkview Regional Hospital, Parkview Family YMCA, Pufferbelly Trail, easy highway access, and all of the dining & shopping options nearby Lima & Dupont roads have to offer. Schedule your tour Today & be moved into your new Home before the New Year!

4. 2024-01-04
   status Pending 1138-char remark

   Show marketing remark (1138 chars)

   * * REDUCED & READY TO SELL * * Tucked away in Willow Run on a tree lined lot is a beautiful 4-Bedroom that does not lack for space or lay-out options. Step inside the vaulted entryway, and behind glass French doors find the first of two Living Spaces ~ a spacious Den/Formal Dining Room/ Home Office. Continue on to the Great Room and adjacent Eat-in Kitchen which comes fully loaded with upscale Stainless Steel appliances and offers easy access to the back patio. Wrapping up the Homes main level is a private Laundry Room already fitted with a Washer & Dryer and main floor Half Bath tucked behind a pocket door. The Upper Level is comprised of a large Master Suite with a walk-in closet and en suite PLUS Three Guestrooms and their shared Full Bathroom. The location could not be better; located in the highly desirable NWA School District and near the Parkview Regional Hospital, Parkview Family YMCA, Pufferbelly Trail, easy highway access, and all of the dining & shopping options nearby Lima & Dupont roads have to offer. Schedule your tour Today & be moved into your new Home before the New Year!

5. 2024-01-02
   listed $269,900 Active 1138-char remark

   Show marketing remark (1138 chars)

   * * REDUCED & READY TO SELL * * Tucked away in Willow Run on a tree lined lot is a beautiful 4-Bedroom that does not lack for space or lay-out options. Step inside the vaulted entryway, and behind glass French doors find the first of two Living Spaces ~ a spacious Den/Formal Dining Room/ Home Office. Continue on to the Great Room and adjacent Eat-in Kitchen which comes fully loaded with upscale Stainless Steel appliances and offers easy access to the back patio. Wrapping up the Homes main level is a private Laundry Room already fitted with a Washer & Dryer and main floor Half Bath tucked behind a pocket door. The Upper Level is comprised of a large Master Suite with a walk-in closet and en suite PLUS Three Guestrooms and their shared Full Bathroom. The location could not be better; located in the highly desirable NWA School District and near the Parkview Regional Hospital, Parkview Family YMCA, Pufferbelly Trail, easy highway access, and all of the dining & shopping options nearby Lima & Dupont roads have to offer. Schedule your tour Today & be moved into your new Home before the New Year!

6. 2023-12-23
   status Pending
7. 2023-12-18
   listed $269,900 Active
8. 2023-12-04
   listed $274,900 Active
9. 2017-09-01
   soldstatus $167,000
10. 2017-06-20
    listed $168,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $2,074 · $173/mo
• Projected year-2 tax: $2,291 · $191/mo
• Expected delta: +$217/yr (+$18/mo · 10.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,246
• − Mortgage interest: −$16,525
• − Property taxes: −$2,074
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,260
• − Management: −$2,260
• − HOA: −$192
• − Depreciation: −$8,582
• Taxable loss: −$5,121
• Est. tax savings @ 24.0%: +$1,229
• After-tax cash flow: $1,238/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Northwest Allen County Schools
• NCES district ID: 1808250
• Math proficiency: 51% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $78,952
• Composite: 49.26/100
• National rank: #2027
• State rank: #25 of 301 in IN

Livability — Huntertown

• Score: 70/100
• State rank: #159
• US rank: #7771

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huntertown, IN
• Population (ZIP): 6,933

Population outlook (Allen County) Hauer SSP2

• Today (2025): 394,020 people
• By 2030: 405,128 · +2.8%
• By 2040: 423,476 · +7.5%
• By 2050: 435,137 · +10.4%
• By 2075: 450,293 · +14.3%
• By 2100: 424,101 · +7.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 4% Hispanic / Latino 4% Two or more races 4% Asian 2%
• Common ancestry: Italian 7% Swedish 3% Romanian 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 5% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Allen

• 2024 margin: R (+12.5) · D 42.9% · R 55.4% · Other 1.7%
• 2008→2024 swing: -8.1pp toward R · 2008: -4.3pp · 2024: -12.5pp
• All cycles: 2024: R+12.5 2020: R+11.2 2016: R+19.6 2012: R+16.8 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.59%
• Current HPI: 212.6029
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+75.6% since first listed

10 events — show timeline

• 2026-05-10 Pending — IRMLS
• 2026-05-08 Listed $295,000 IRMLS
• 2024-02-02 Sold (MLS) $269,900 IRMLS
• 2024-01-04 Pending — IRMLS
• 2024-01-02 Listed $269,900 IRMLS
• 2023-12-23 Pending — IRMLS
• 2023-12-18 Listed $269,900 IRMLS
• 2023-12-04 Listed $274,900 IRMLS
• 2017-09-01 Sold (MLS) $167,000 IRMLS
• 2017-06-20 Listed $168,000 IRMLS

Property tax history

+3.7%/yr

Latest (2024): $2,074 · +3.1% YoY. Source: county tax records.